Flutter Entertainment plc (NYSE:FLUT) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI lowered its position in Flutter Entertainment plc (NYSE:FLUT) by 32.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 27,024 shares of the company’s stock after selling 13,124 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Flutter Entertainment were worth $6,365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new stake in shares of Flutter Entertainment in the second quarter worth $37,000. CWM LLC acquired a new stake in shares of Flutter Entertainment in the 2nd quarter valued at about $40,000. US Bancorp DE lifted its position in shares of Flutter Entertainment by 71.7% during the third quarter. US Bancorp DE now owns 237 shares of the company’s stock worth $56,000 after purchasing an additional 99 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Flutter Entertainment in the third quarter worth about $82,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Flutter Entertainment in the third quarter valued at about $190,000.

Flutter Entertainment Stock Up 0.3 %

FLUT opened at $280.38 on Friday. Flutter Entertainment plc has a fifty-two week low of $158.43 and a fifty-two week high of $284.79. The business has a 50-day moving average of $247.70 and a 200-day moving average of $217.64.

Flutter Entertainment announced that its Board of Directors has initiated a share buyback program on Wednesday, September 25th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on FLUT shares. Susquehanna increased their target price on Flutter Entertainment from $273.00 to $286.00 and gave the stock a “positive” rating in a report on Wednesday, November 13th. BTIG Research raised their price objective on Flutter Entertainment from $249.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. The Goldman Sachs Group began coverage on shares of Flutter Entertainment in a report on Friday, November 22nd. They issued a “buy” rating and a $320.00 price objective for the company. Morgan Stanley started coverage on shares of Flutter Entertainment in a report on Thursday, August 22nd. They set an “overweight” rating and a $247.00 target price on the stock. Finally, Benchmark boosted their price objective on shares of Flutter Entertainment from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Flutter Entertainment presently has a consensus rating of “Buy” and an average target price of $298.79.

Flutter Entertainment Profile

Flutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, Italy, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sports betting, iGaming, daily fantasy sports, online racing wagering, and TV broadcasting products; sportsbooks and exchange sports betting products, and gaming products; and online sports betting.